Laurus Labs falls after USFDA inspects Andhra Pradesh facility of its arm
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Laurus Labs is currently trading at Rs. 379.20, down by 8.85 points or 2.28% from its previous closing of Rs. 388.05 on the BSE.
The scrip opened at Rs. 376.75 and has touched a high and low of Rs. 383.95 and Rs. 373.15 respectively. So far 75238 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 417.85 on 09-Aug-2023 and a 52 week low of Rs. 279.65 on 28-Apr-2023.
Last one week high and low of the scrip stood at Rs. 396.75 and Rs. 373.15 respectively. The current market cap of the company is Rs. 20378.30 crore.
The promoters holding in the company stood at 27.20%, while Institutions and Non-Institutions held 35.04% and 37.76% respectively.
Laurus Labs’ wholly owned subsidiary -- Laurus Synthesis (LSPL) has underwent the United States Food and Drug Administration (USFDA) inspection for the manufacturing facility in Parawada, Anakapalli, near Visakhapatnam, Andhra Pradesh. The inspection was conducted from December 4, 2023 to December 12, 2023. It has been issued a Form 483 with five observations and the Company will address the observations within stipulated timelines.
Laurus Labs is a leading research and development driven pharmaceutical company in India. The company has grown consistently to become one of the leading manufacturers of APIs for anti-retroviral (ARV) and Hepatitis C. It also manufactures APIs in oncology and other therapeutic areas.
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